There seems to be a repeating pattern with BTC in a "correction" where the retrace to the lower support line carried a significant uptrend arc with a timeframe of approx 6-7 days.
Given the movements of the past 24 hours, it would seem we are repeating that cycle, and if so, then 12/15 we can expect 20K.
Not advice. Just an opinion.
Given the movements of the past 24 hours, it would seem we are repeating that cycle, and if so, then 12/15 we can expect 20K.
Not advice. Just an opinion.
Note
Great to keep in mind that the arc can "escalate" its approach if volume sprints ahead. Likewise, if we see continued side-ways movement the arc can reduce it's angle of approach and put us out further than 12/16 and at a lower high.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.